Property Type

LPL Financial Opens New Corporate Campus in Metro Charlotte

by John Nelson December 6, 2016

FORT MILL, S.C. — LPL Financial has opened its new Carolinas campus in Fort Mill, a suburb of Charlotte in South Carolina. Designed by tvsdesign, the 27-acre campus includes 450,000 square feet of office space in two buildings and features net-zero water design strategies, tree save areas, efficient HVAC systems and natural light. The Atlanta-based architect expects the campus to receive LEED Gold certification. The campus consolidates LPL Financial’s 1,400 employees previously working in four separate locations in metro Charlotte. Situated within the Kingsley Park mixed-use development, LPL’s campus includes sit-to-stand adjustable work stations, a fitness center, health clinic, cafeteria, two miles of walking trails, community garden, outdoor sports court, game room, waterfront plaza, 12 EV charging stations, bicycle storage and a bicycle sharing program.

December 6, 2016

Industrial Southeast Virginia

GID Investment Advisors Sells Windsor Business Park in Richmond for $33.3M

by John Nelson December 6, 2016

RICHMOND, VA. — Boston-based GID Investment Advisors has sold Windsor Business Park, a 341,960-square-foot, six-building industrial park located on a 62-acre tract at 8550-8570 Magellan Parkway in Richmond. Bethesda, Md.-based Fernau LeBlanc and co-investor John B. Levy & Co. Inc. purchased the asset from GID for $33.3 million. John B. Levy & Co. was the debt advisor and placed the majority of the equity through its affiliate Pickwick Capital. Eric Robison, Evan Magrill and Dean Meyer of Cushman & Wakefield | Thalhimer represented the seller in the transaction. Windsor Business Park was 97.5 percent leased at the time of sale to tenants such as Bon Secours Health System, CVS and GPM Investments.

December 6, 2016

Loans Louisiana Multifamily Southeast

CBRE Arranges $32.5M Refinancing of Apartment Building in Downtown New Orleans

by John Nelson December 6, 2016

NEW ORLEANS — CBRE has arranged a $32.5 million loan to refinance 925 Common, a 15-story apartment building in downtown New Orleans. Built in 1952 as offices for Shell Oil, the building was converted to a 108-unit multifamily development in 2006. The sponsor, Belmont Commons LLC, recently completed extensive renovations at 925 Common, including adding 91 units, a new rooftop infinity-edge pool, new fitness center and an expanded parking garage. The property’s 10,400 square feet of ground-level retail space was also activated to include a Rooster Club Barber Shop and Goldberg’s Bagel Co. & Deli. Jonathan Rice of CBRE’s Atlanta office arranged the 10-year loan through Benefit Street Partners. 925 Common is situated in the central business district of New Orleans and is adjacent to The Roosevelt and across from Canal Street and the French Quarter.

December 6, 2016

Multifamily North Carolina Southeast

Childress Klein Breaks Ground on Apartment Community in Wilmington

by John Nelson December 6, 2016

WILMINGTON, N.C. — Childress Klein has begun construction on Element Barclay, a new 402-unit apartment community situated within the mixed-use Barclay development in southwest Wilmington. Phase I will feature 258 units. Located along South 17th Street, Element Barclay will feature a clubhouse, resort-style saltwater pool, bocce ball court, dog park and outdoor fireplaces and grilling areas. The community will be within walking distance of Halyburton Park and adjacent to The Pointe at Barclay, a new retail development that will feature a 14-screen movie theater, restaurants and stores. The development team includes general contractor Harold K. Jordan & Co Inc., architect Rule Joy Trammell + Rubio, civil engineer Hanover Design Services and hardscape and landscape designer Mihaly Land Design. The first units at Element Barclay are expected to be available for occupancy in the summer of 2017, and leasing will begin in the spring of 2017.

December 6, 2016

Multifamily New York Northeast

Joint Venture Acquires 95-Unit Apartment Building in Brooklyn for $68.9M

by Amy Works December 6, 2016

NEW YORK CITY — A joint venture between Trinity Place Holdings and Pacolet Millliken Enterprises has acquired The Berkley, a newly built apartment building located at 223 N. Eighth St. in Brooklyn’s Williamsburg neighborhood, for $68.9 million. The purchase was capitalized by a $42.5 million interest-only senior loan from Freddie Mac at a spread of 216 basis points above LIBOR. The property features 95 units with in-unit washers/dryers, individual HVAC controls and walk-in closets. On-site amenities include a rooftop sun deck, two-story fitness center, outdoor yoga lawn, outdoor central courtyard, tenant storage, parking and views of the Manhattan skyline. The name of the seller was not released.

December 6, 2016

Healthcare New Jersey Northeast

Carter Validus Mission Critical REIT II Acquires 89,000 SF Medical Building in New Jersey for $63.6M

by Amy Works December 6, 2016

MARLTON, N.J. — Carter Validus Mission Critical REIT II Inc. has acquired Select Medical Rehabilitation Facility in Marlton for $63.6 million. Built in 1995, the three-story rehabilitation building offers 89,000 rental square feet and is net leased to Kessler Institute for Rehabilitation Inc., a subsidiary of Select Medical Holdings Corp. The tenant offers a variety of services including inpatient physical, occupational, speech and recreational therapy and outpatient aquatic therapy, prosthetic training, lymphedema management, balance rehabilitation and vestibular therapy. The name of the seller was not released.

December 6, 2016

New York Northeast Retail

Heidenberg Properties Group to Redevelop Retail Property in Mahopac, New York

by Amy Works December 6, 2016

MAHOPAC, N.Y. — Heidenberg Properties Group has received final site-plan approval by the planning board of the town of Carmel for the renovation and expansion of Lake Plaza Shopping Center in Mahopac, a hamlet within Carmel. The redevelopment plan includes the demolition of an existing 24,000-square-foot Key Food supermarket and 7,800-square-foot CVS/pharmacy. That will clear room for a 54,000-square-foot Stop & Shop resulting in a new building footprint more than 20,000 square feet larger than the two existing stores. Additionally, the overall retail center will expand from 141,000 square feet to 165,000 square feet. The project also includes the renovation of the façade, repaving of the parking area and upgraded site lighting. Heidenberg Properties plans to start construction in spring 2017.

December 6, 2016

New Hampshire Northeast Office

The Kane Company Arranges 1,367 SF Office Lease in Portsmouth, New Hampshire

by Amy Works December 6, 2016

PORTSMOUTH, N.H. — The Kane Company represented A&A Search Staffing in a lease for 1,367 square feet of office space at 2 International Drive in Portsmouth. The information technology staffing company took occupancy of the space on Dec. 1. Catie Medeiros of The Kane Company represented the tenant, while Russell Doyle provided in-house representation for the landlord, Two International Group, in the deal.

December 6, 2016

Northeast Office Pennsylvania

Arrow Real Estate Services Joins TCN Worldwide Real Estate Services

by Amy Works December 6, 2016

PHILADELPHIA — Arrow Real Estate Services has joined TCN Worldwide Real Estate Services as the newest member of the international real estate services organization. Founded in 2012 with four people, Arrow Real Estate Services has grown to a more than 40-person company with more than 3 million square feet of listings and over 20 local, regional and national retail clients. Serving the greater Philadelphia area, the firm provides real estate brokerage and consulting services, including retailer representation, project leasing, site selection, property dispositions, consultation, property management, and office, medical and industrial representation.

December 6, 2016

Hospitality Texas

HFF Facilitates Sale of 350-Room DoubleTree by Hilton in Downtown Houston

by Amy Works December 6, 2016

HOUSTON — HFF has closed the sale of DoubleTree by Hilton Houston Downtown, a full-service hotel located at 400 Dallas St. within Allen Center in downtown Houston. The hotel features 350 guest rooms, 18,000 square feet of function space, Trofi Restaurant & Bar, Atrium Lobby Lounge and 24-hour fitness and business centers. John Bourret, Austin Brooks, Colby Mueck and Daniel Peek of HFF represented the undisclosed seller. The name of the buyer and acquisition price were not released.

December 6, 2016

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